The Land Grant Permanent Fund (LGPF), also known as the Permanent School Fund, is one of the largest funds of its kind in the country, and every year provides more than a half-billion dollars in benefits to New Mexico’s public schools, universities and other beneficiaries ($784.2 million in FY20).

Established through New Mexico’s entry into statehood in 1912, the LGPF has evolved and grown over time due to revenue from leases and royalties produced by non-renewable natural resources in New Mexico (primarily oil and gas), and income from returns on invested capital.

The 11-member State Investment Council and its staff are fiduciaries to the Fund, and invest the LGPF in accordance with the Uniform Prudent Investor Act standard.